New Delhi, March 29 -- Tech billionaire Elon Musk said on March 28 that he has sold social media site X to his own xAI Artificial Intelligence (AI) company in a $33 billion all-stock deal.

"xAI and X's futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent," Musk said in a post on X, formerly known as Twitter.

Musk said that the move will :unlock immense potential by blending xAI's advanced AI capability and expertise with X's massive reach." He said the deal values xAI at $80 billion and X at $33 billion. "Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at unprecedented speed and scale," ...